Article Text
Green County Bank Failed. SPRINGFIELD, Mo., Aug. 7.-The Green County bank failed to open its doors this morning. As a consequence considerable excitement prevails, and a run on all of the banks was precipitated. No statement.
10648. Greene County Bank (Springfield, MO)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Start Date
- August 7, 1893
- Location
- Springfield, Missouri (37.215, -93.298)
Metadata
- Model
- gpt-5-mini
- Short Digest
027ee6ef
Response Measures
None
Description
The Greene County (Green County/Greene County OCR variants) Bank failed to open/assigned on Aug 7, 1893 (suspended/assigned) and subsequently resumed operations Sept 1, 1893. Multiple articles report the bank 'failed to open' or 'assigned' Aug 7; an article explicitly reports resumption Sept 1. Assignment appears to be a voluntary assignment (not a run-driven closure). There were runs on other banks in the city after the Greene County Bank failed to open, but no clear report of a depositor run on this bank preceding suspension.
Events (3)
1.
August 7, 1893
Suspension
- Cause
- Voluntary Liquidation
- Cause Details
- Bank 'assigned' (assignment made Aug 7); assets and liabilities published (liabilities $137,242; assets $252,251). Bank failed to open its doors and was assigned that day; implies a voluntary assignment to trustees/receivers rather than a depositor-run closure or government-ordered holiday.
- Newspaper Excerpt
- The Greene County bank failed to open its doors this morning. ... The Green County Bank, the oldest in the city, assigned today. Liabilities $137,242; assets $252,251.
- Source
- newspapers
2.
September 1, 1893
Reopening
- Newspaper Excerpt
- The Greene County bank, the oldest in the city, which suspended August 7, resumed to-day.
- Source
- newspapers
3.
*
Other
- Newspaper Excerpt
- A run on all the other banks resulted. ... considerable excitement prevailed, and a run on all the banks was precipitated. No statement.
- Source
- newspapers
Newspaper Articles (17)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
MORE FAILURES. A. Bank Closes and it General Run is the Result. SPRINGFIELD, Mo., Aug. 7.-Greene County bank failed this morning. No statement. A run on all the other banks resulted. CHICAGO, Aug. 7.- Chicago Iron and Steel company of East Chicago, Indians, has failed. No statement. The plant is nearly new and cost a quarter of a million. It is claimed that the liabilities are less than $100,000. PHILADELPHIA, Aug. 7.-A receiver has been appointed for the Chestnut Hill Iron Ore Co. It is hopelessly insolvent. It was once the manufacturers of pig iron in East Pennsylvania.
Click image to open full size in new tab
Article Text
EMBARRASSED BANKS. Suspicious Depositors Cause Trouble at Wheeling and Other Towns. WHEELING, W. Va., Aug. 7.-Ae the result of the scare created by the assignment of the Exchange bank, a run began on several other banks this morning, but it did not last long. Large deposits were made which counteracted the withdrawals by emall depositors, and the run immediately ceased. STURGIS, Mich., Aug. 7.-The directors of the National Bank of Sturgis met today and decided to suspend payment for a short time. The assets will pay liabilities three to one, and the bank will probably reopen soon. SPRINGFIELD, Mo., Aug. 7.-The Greene County bank failed this morning. A heavy run on all the other banks resuited, and continued until the close of business, but abated during the afternoon. It is thought confidence will soon be restored.
Click image to open full size in new tab
Article Text
A Missouri Bank Fails. Springfield, Mo., Aug. 7.-The Green County Bank failed to open its doors this morning. As a consequence considerable excitement prevails and a run on all the banks was anticipated. No statement has been made yet.
Click image to open full size in new tab
Article Text
SCARCITY OF MONEY. That Is the Condition That Now Confronts Wall Street. Believed to Be Even More Serious Than the Reputed Evil of the Sherman Law. Special to THE MORNING CALL NEW YORK, Aug. 7.-Aside from the meeting of Congress and its probable action on the silver question, together with the probable effect of that action on business in general and the stock market in particular, the principal subject of discussion to-day was the continued scarcity of all forms of currency, notes and specie. In fact, according to well-imformed bankers, that was in some respects the most serious question of the dav. Money-brokers today were paying as high as 1/2 to 1 per cent for currency and were getting as high as 31/2 for it in big lots. One peculiar feature in connection with this scarcity of cash was that money-brokers were bidding from 1/2 to 5/4 to 1 per cent for gold to arrive, notwithstanding that the rate of foreign exchange did not warrant the importation of gold. Sight sterling was in demand in consequence of the offering of a premium for gold. At the sub-treasury to-day it was said that there was an abundant supply of currency on hand which banks can have in exchange for its equivalent. The Clearinghouse loan committee issued $1,015,000 more loan certificates, making the total amount now outstanding $36,065,000. Gold in the treasury is daily increasing. It stands to-day $102,291,395, or $2,291,395 above the reserve. The net balance in the treasury, however, from the Treasurer's statement issued to-day, shows a decrease, attributed largely to the falling off in customs receipts. The fact that customs receipts are falling off. while it affects the Government revenue from that source, has an opposite bearing upon the general prosperity of the country, as it shows that less money is being expended abroad for imported merchandise. Offers of silver to-day aggregated 565,000 ounces, and of this amount 21,000 ounces were purchased at .726 and the same price tendered for the remainder. CHICAGO, Aug. 7.-The Chicago Iron and Steel Company of East Chicago, Ind., has failed. There is DO statement. The plant was nearly new and cost $250,000. It is claimed the liabilities are less than $100,000. SPRINGFIELD, Mo., Aug. -The Greene County Bank falled this morning: no statement. A run on all the other banks resulted. PHILADELPHIA, Aug. 7.-A receiver was appointed for the Chestnut Hill Iron Ore Company. It is hopelessly insolvent. It was once one of the largest manufacturers of pigiron in Eastern Pennsylvania. CLEVELAND, Ohio, Aug. 7.-The National Vapor Stove Company has made an assignment. The assets are $125,000 and the liabilities $90,000. WHEELING, W. Va., Aug. 7.-As a result of the scare created by the assignment of the Exchange Bank, a run began on several other banks this morning, but it did not last long. Large deposits were made, which counteracted the withdrawals by smaller depositors, and the run inmediately ceased. STURGIS, Mich., Aug. 7.-The directors of the National Bank of Sturgis met today and decided to suspend payment for a short time. The assets will pay the liabillties three to one, and the bank will probably reopen soon. NASHVILLE, Tenn., Aug. 7. - Attilla Cox of Louisville was to-day appointed receiver for the Louisville, Sr. Louis and Texas Railway by United States Judge Lurton upon the application of Post, Martin & Co. of New York.
Click image to open full size in new tab
Article Text
TROUBLES OF BANKS AND BANKERS. RECEIVERS FOR A NEW-BEDFORD INSTITUTION -A MILWAUKEE BANK TO RESUME New-Bedford, Mass., Aug. 7.-The savings bank commissioners have completed their examination of the affairs of the New-Bedford Safe Deposit and Trust Company. and express their entire satisfaction with the solvency of the institution. The bank has paid out over $200,000 in the last sixty days to depositors, and while the institution had over $40,000 in cash on hand at the time of the suspension, the bank could have at the latest kept on but a day or two longer. The affairs of the bank will be placed in the hands of two receivers, and two New-Bedford men have been nominated for the place. Manchester, N. H., Aug. 7.-Receiver Taggart, of the suspended Defryfield Savings Bank, states that the liabilities of the institution are $252,894. and assets $254,671. He could not state what the loss to stockholders will be as the figures representing the assets are the face value as seen on the books, and no allowance is made for the shrinkage in securities. Springfield, Mo., Aug. 7. The Green County Bank, the oldest in the city, assigned to-day. Liabilities. $137,2421 assets, $252,251. There is some excitement, but no other bank seems to be involved. Milwaukee, Wis., Aug. 7.-Stockholders of the Mil wankee National Bank held a meeting to-day and voted to resume business. Three hundred thousand dollars must be added to the capital stock, and it was voted to raise the money. Pittsburg. Aug. 7.-The principal bankers of Pitts burg. comprising the Clearing House Association, to gether with between thirty and forty of the leading financiers of the city, met at the Clearing House this morning to discuss the financial situation. Several plans were suggested to make the banking Institutions of the city formidable enough to overcome any possi ble emergency that might present itself. No definite plan was adopted. but several are under consideration and will be acted upon finally at a meeting to be held later on. St. Paul. Minn., Aug. 7 (Special).-A meeting of the board of directors of the National German American Bank was held to-day. 11 was decided to call a special meeting of the stockholders on August 17. It is expected that at this meeting arrangements will be perfected for the bank to resume business at an early date. The People's Bank reports that it will resume business soon.
Click image to open full size in new tab
Article Text
BUSINESS TROUBLES. Some Establishments Close Their Doors While Others Resume Work. CLEVELAND, O., August 7.-The National Vapor Stove Company has made an assignment. Assets, $1,25,000; Habillties, $90,000. CHICAGO, ILL., August 7.-The Chicago Iron and Steel Company has assigned. Its works are located at East Chlcago, Ind. The plant cost $250,000. It has been established two years, and has been doing good business in smelting and manufacturing iron and steel rails and heavy structural work. The outstanding book accounts are placed at $25,000. The company claims its liabilities to be only between $50,000 and $90,000, of which $40,000 consists in indorsements made for the firm of Parkhurst & Wilkinson, which failed a short time ago. NEW HAVEN, CONN., August 7.-Gallagher's, the Cigar Company and the Loomis factory, leading cigar manufacturing concerns of this city, shut down to-day. It is stated by the manufacturers that a portion of the shops will reopen at reduced wages at the expiration of one week. The cigar business has been unusually dull here for several months. RACINE, WIS., August 7.-Business among the factories in Racine is commencing to brighten up a little. For the past month there has not been more than one-third of the factories in operation, and those which have been running have been working on short time. This morning the J. I. Case Thrashing Machine Company, which employs eight hundred men, started up a part of its shops, beginning with two hundred men. The J. 1. Case Plough Works will start up in three or four days with a full force of four hundred men. The Fish Brothers' Wagon Company also reopened its doors this morning, working eight hours a day and at a reduction of 20 per cent. in wages. Other factories which have closed will start up next week. PHILLIPSBURG, N. J., August 7.-The American sheet mill, one of the largest iron industries here, after being closed down nearly two months, resumed operations to-day with enough orders to keep the mill going steadily with its day force. PITTSBURG, PA., August 7.-Work was partially resumed at Jenes & McLaughlin's American Iron Works this morning. Seven mills in the finishing departments, the billet mill and the steel plant are in operation. About five hundred men were at work. The puddling department was closed indefinitely Saturday evening. About 2,500 employes of the works are idle. SPRINGFIELD, MO., August 7.-The Green County Bank failed to open its doors this morning. As a consequence considerable excitement prevails, and a run on all of the banks was precipitated. No statement yet.
Click image to open full size in new tab
Article Text
Wirings from Everywhere. The Green County Bank, Springfield. Mo., failed to open its doors yesterday morning. The Chicago Iron and Steel Company, with its works at East Chicago, Ind., has assigned. The Italian government has decided to forbid all pilgrimages to Rome in the event of cholera's continuing abroad. The Farmers' and Merchants' Bank of Bassett, Neb., has closed and is in the hands of the State Banking Board. The strike of all Missouri|miners, ordered for yesterday by a convention of miners held in Kansas City a week ago, did not materialize. Sunday to Lake Village, Ark., there was a shooting scrape between Joe Frame and Perry Lasson, two young men of the village, in which Lasson was instantly killed and Frame seriously wounded. Attle Cox, of Lonisville, Ky., was yesterday appointed receiver of the Louisville, St. Louis and Texas ratiroad by United States Circuit Judge H. H. Lurton, at Nashville, Tenn., upon the application of Post, Martin & Co., of New York. He is bonded at $100,000, and 18 to take charge of the road at once. The mutilated body of an unidentified man, supposed to be A detective, was found hidden in the woods near a railroad-tie camp in Craighead county, Ark., yesterday. The man had apparently been watching the camp for a fugitive from justice. His .broat was cut and his body was riddled with bullets. C. O. Summers, a Pinkerton detective who helped to run down and assassinate the noted express-robber Eugene Bunch, and capture his pal-Hobgood, escaped from the penitentiary at Jackson, Miss, last evening. He and Tom Murphy, an all-round crook from Chicago, made a key to the express-safe in Meridan and robbed the express office of 85,000. Governor Lewelling, of Topeka, Kas, yesterday appointed Stias Rutiedge. of Valley Falls: Benjamin Hielbrum. of Page City: W. J. Wilson. of Wichita, and Thyge Sogard, the Danish Vice Consul at Kansas CLV, commissioners to Chicago to confer with representatives of foreign governments attending the World's Fair on the subject of steamship transportation to Europe by the Gulf of Mexico.
Click image to open full size in new tab
Article Text
More Bank Failures. WASHINGTON, Aug. 7.-Comptroller Eckels is informed that the National Bank of Sturgis, Mich.. capital $55,000, closed its doors to business this morning. Bank Examiner Caldwell has been placed in charge. SPRINGFIELD, Mo., Aug. 7.-The Greene County Bank. the oldest in the city, assigned today. Liabilities $137,242: assets $252,251. There is some excitement. but no other bank seems to be involved.
Click image to open full size in new tab
Article Text
TELEGRAPHIC BRIEFS. Allessandria, Italy, is officially declared to be freer from cholera and the epidemic is declining in Naples. At Springfield, Mo., the Greene county bank failed. No statement. A run on all the other banks resulted. At Cleveland, O., the National Vapor Stove company has made an assignment. Assets, $125,000; liabilities, $90,000. Cholera is spreading in Roumania and Galicia. Several cases have been reported in Lemberg, the capital of Galicia. The Illinois Central railway has declared a dividend of 2½ per cent. in cash on its capital stock payable Sept. 1, 1893, to stock of record Aug. 9. In New York Chancellor McGill has announced that he has decided to give the receivers of the National Cordage trust till Sept. 5 to make their report. Postmasters appointed yesterday were: William Mayfield at Plymouth, Utah, vice Hess, resigned; Israel Cannon at Walters, Ida., vice Walter, resigned. Gaudaur has again challenged Stansbury, the Australian oarsmen. If the challenge is not accepted by Sept. 5, Gaudaur will claim the championship of the world. Solly Smith and George Dixon were practically matched last to fight before the Coney Island Athletic club. The contest has been set for sometime in September. A receiver has been appointed for the Chestnut Hill Iron Orecompany of Philadeiphia. It is hopelessly insolvent. It was once the largest manufacturer of pig iron in east Pennsylvania. The Chicago Iron and Steel company of East Chicago, Ind., has failed. No statement. The plant is nearly new and cost a quarter of a million. It is claimed that the liabilities are less than $100,000. It is reported that William Whitman, the alleged robber of the American Express company at Springfield, Ills., is at the Valley of Palms, Lower California. It is claimed he spent two weeks in San Diego. The directors of the National bank of Sturgis, Mich., met yesterday and decided to suspend payment for a short time. The assets will pay liabilities three to one, and the bank will probably reopen soon.
Click image to open full size in new tab
Article Text
Assets Exceed Liabilities. SPRINGFIELD, Mo., Aug. &-The Green county bank. the oldest in the city, h s assigned. Liabilities $137,310 assets $252,251. There is some excitement, but no other bank seems to be involved.
Click image to open full size in new tab
Article Text
THE WEEK'S NEWS IN BRIEF. MANY INCIDENTS REDUCED FROM COLUMNS TO SHORT. SPICY PARAGRAPHS. Everything Eliminated But Facts For the Special Convenience of Readers of The Tribune. GOVERNOR FISHBACK is improving slowly. A DECISION in the Bering Sea case is expected soon. REPUBLICANS will not antagonize a reduction of tariff. A COAL black negro turned white after death-in the Indian 'I erritory. CONGRESSMAN FITHIAN of Illinois d clares in favor of free coinage. SENATOR VEST will introduce a free coinage bill at the extra session, SENATOR PALMER thinks Congress will not be quick to act en the tariff. FOUR desperate men escaped from the pen at Jefferson city, Mo., Friday. TROUBLE is again brewing in the Choctaw Nation and war may be the result. REPUBLICAN Congressmen are anticipating a Democratic onslought on the tariff. SOME of the gates of the World's Fair and some of the displays were open Sunday. A BROTHER and sister in Indiana were recently reunited after a seperation of70 years. SENATOR TELLER thinks unconditional repeal of the Sherman law an impossibility. THE old stock yard barns at Kansas City were burned last week and 36 horses perished. CONGRESSMAN SIBELY of Pennsylvania will have six horses at the.capitol for his personal use. IT is stated that the President will send a message to congress on the Hawaiian question. BETWEEN $8,000,000 and $10,000,000 in gold is now being shipped from Europe to America. PORK dropped from $18.50 to $10.50 per barrel on Chicago Markets on Wednesday of last week. JAKE LOSER, implicated in the murder of Ben Levinson, was admitted to bail at Little Rock. Two little girls have been arrested in New York who have committed a series of darrobberies. SECRETARY SMITH says the Cherokee Strip'will probably be thrown open to settlement on September 1. WORFD'S FAIR managers are devoting much attention to schemes to increase the attendance. Ex-SENATOR J. J. INGALLS predicts a great financial upheavel and a general redistribution on wealth. THE Green County Bank, the oldest financial institution in Springfield, Mo., suspended Monday. PROSPECTIVE settlers of the Cherokee Strip are already getting in line before the land office at Kingfisher. OFF Island One Hundred, near Troy, N. Y., a boat was capsized Friday. and ten women a boy were drowned. SENATOR HILL is said to be at work on a free coinage bill which he will introduce at the coming session of congress. PROF. SEYMOUR, the mind reader, has completed his preparations for burial alive while a crop of barley is grown on his grave. THE features of this week at Chicago and the World's Fair will be the great bicycle meetand the congress on jurisprudence and law. MIKE DOYLE, charged with a fiendish crime at Little Rock. was traced to Colorado, captured, and is now in the Pulaski County Jail. JERRY SIMPSON was very much disap. pointed when he learned that no mileage would be paid to congressmen on account of the extra session. GEORGE GOULD ascribes as one of the causes of the present stringency the hostility of State and general governments to the big corporations, THE court-marshal is aronsing bitter in Kansas, and the very Hughes feeling both Populists and Republicans are talking of the shedding of blood. LONDON papers comment freely on the stringency in the American money n arket, as illustrated by several American railroads makKing heavy loans there. COLORADO is now wind reason of her every other interest to the and by production subordination reaping of the silver of whirl"blood to the bridles" sentiment. THE Grand Jury at Memphis has indicted Sheriff Mclandon and several other officers for failure to to their duty on the occasion of the Lynchiag of the negro Walker recently, Naples arrived at New York on board three dead very THE Steamer Karmani women. port Friday, The from disease having much resembled cholern and the ship was quarantined at once. JUDGE CRISP was unanimously renominated for of the tives in Democratic Speaker caucus House last of Saturday Representa- evening. Ex-Speaker Reed was nominated by the Republicans. REPRESENTATIVE LEWIS SPERRY of by apin Connecticut penrance of a was so touched the ragged last Satthat he tookt lad to a store and a of furday suit AT clothes newsboy for him. Washington bought Angnsta, this State, last Saturday. Will Met Liadon colored shot and mortally
Click image to open full size in new tab
Article Text
Some Little Excitement. SPRINGFIELD, Mo., August 7.The Greene County Bank failed to open its doors this morning. As a consequence considerable excitement prevailed, and a run on all the banks was precipitated. No statement as yet.
Click image to open full size in new tab
Article Text
loss by exchange. In two months banks lost $49,000,000 cash and $58,000,000 deposits, and decreased loans $20,000,000. [That is to say-the premium for export gold is 1c. on the dollar-on sale in New York gold is at 1½ and 2c. premium! The New York Central is reducing wages and hours of its employes. Buffalo banks refuse to cash checks except for pay rolls. A joint resolution to suspend silver purchase pending disscussion may be introduced at once in congress. [If the knaves and traitors would coin what they have this crash would let up in one hour.] Western railway managers say operating expenses have been cut down to such an extent that with a 20 per cent falling off in the gross returns they will show little decrease. An Omaha special says talk of a receiver for the Union Pacific is premature. The very best information obtainable from senators and members is to the effect that early action on the repeal of the Sherman silver act need not be expected. Robert H. Colman, the iron king, of Lebanon Valley, Pa., is said to have confessed judgments which, with other liens, aggregate over $2,000000. The loan crowd showed more lenders but a demand for stockssufficient to keep up the premium for use. 11 a. m.-Bear traders are selling St. Paul. 11:15 a. m.-Union Pacific weak. It looks like good selling. 11:25 a. m.-Union Pacific was sold by bears at the opening and they are hard at work now. Boston houses are selling Atchison. A premium is reported of 1 per cent on gold to arrive in ten days. Foreign houses say this is likely to lead to considerable orders for gold being placed in London tomorrow, as even at present rates of exchange there is a large profit on imports in consequence of the premium on currency. A Washington special says there is a heavy run on the Washington Loan and Trust company, one of the biggest financial concerns in the city. In Chicago 15@25 discount is bid on New York exchange. [Think of that-just think of it! We have a private telegram from Chicago stating that New York exchange (drafts on N. Y. banks are at 2 per cent discount! Discount!! Great heavens, to what are we coming. A large business house in Chicago has refused to take N. Y. drafts!] $300,000 more clearing house certificates have been issued, making $1,015,000 for the day and $35,565,000 outstanding. Davenport, Iowa, Aug. 7-The Davenport Woolen mills shut down Saturday night to await a revival of business. The Buffalo Brick and Tile works have stopped work under the same conditions. The !argest cigar factory in the state, located here, gave its men the choice between a 10 per cent cut in wages or a lay-off. The employes voted unanimously to continue under reduced pay. Valparaiso, Ind., Aug. 7.-The Vienna Enamel and Stamping works, at Chesterton, this county, shut down Saturday indefinitely, throwing 150 men out of employment. At the same point the Lake Shore railroad laid off 100 of their track men and will cut the force along the whole line. New York, Aug. 7-A notice was posted in the roundhouse of the New York Central railroad, in Mott Haven, late on Saturday night, announcing that after today the time of labor of all machinist, car repairers and yard men would be reduced three hours a day with a corresponding reduction in pay. The men declare that the wages of some of the men have been reduced as much as 25 per cent. Hudson, Wis., Aug. 7.-Executions on judgments aggregating $117,000 were served on the property of the Hudson Furniture Company today. Springfield, Mo., Aug. 7.-The Greene County Bank failed to open its doors this morning. As a consequence a run on all of the other banks was precipitated. Chicago, Aug. 7.-At 11:45 Saturday night the Chicago Iron and Steel Co. assigned. And the list goes on from day to day, while it is almost impossible to get even a fair estimate of the number without examining papers all over the country. Money is so scarce in New York City that bankers cash bonds, collatteral, large bills, etc., for people only for a premium of $20 on the thousand (2 per ct.) An enormous business is done. Gold is advancing in premium constantly.
Click image to open full size in new tab
Article Text
EMBARRASSED BANKS. Suspicious Depositors Cause Trouble at Wheeling and Other Towns. WHEELING, W. Va., Aug. 7.-As the result of the scare created by the assignment of the Exchange bank, a run began on several other banks this morning, but it did not last long. Large deposits were made which counteracted the withdrawals by small depositors, and the run immediately ceased. STURGIS, Mich., Aug. -The directors of the National Bank of Sturgis met today and decided to suspend payment for a short time. The assets will pay liabilities three to one, and the bank will probably reopen soon. SPRINGFIELD, Mo., Aug. 7.-The Greene County bank failed this morning. A heavy run on all the other banks resulted, and continued until the close of business, but abated during the afternoon. It is thought confidence will soon he restored.
Click image to open full size in new tab
Article Text
An Old Bank Assigns. The Green County bank, of Springfield, one of the oldest in Missouri, has assigned. Assets, $252,251; liabilities, $137,341.
Click image to open full size in new tab
Article Text
A Missouri Bank Resumes Business. SPRINGFIELD, Mo., Sept. 1.-The Greene County bank, the oldest in the city, which suspended August 7, re. sumed to-day.